SCHEDULES
SCHEDULE 4PENSION COMPENSATION PAYABLE ON DISCHARGE OF PENSION COMPENSATION CREDIT
PART 1INTRODUCTORY
Pension compensation age
3
1
This paragraph applies for the purpose of determining the transferee's pension compensation age.
2
Sub-paragraphs (3) and (4) apply where the transferor's PPF compensation, or any of it, is determined under Schedule 6 to the 2005 Order.
3
Where the transferor's right to PPF compensation arises by virtue of his or her status as a member of a pension scheme for which the Board assumed responsibility in accordance with Chapter 3 of Part 3 of that Order, the transferee's pension compensation age is the same as—
a
the normal pension age of the transferor, or
b
where the transferor was a pension credit member, the normal benefit age of the transferor.
4
Where the transferor's right to PPF compensation arises by virtue of his or her status as a person connected with a member of a scheme for which the Board assumed responsibility in accordance with Chapter 3 of Part 3 of that Order, the transferee's pension compensation age is the same as—
a
the normal pension age of that member, or
b
where that member was a pension credit member, the normal benefit age of that member.
5
Sub-paragraph (6) applies where the transferor's PPF compensation is determined only under this Schedule.
6
The transferee's pension compensation age is the same as the pension compensation age of the transferor.
7
In this paragraph, “normal benefit age”, “normal pension age” and “pension credit member” have the same meanings as in Schedule 6 to the 2005 Order.